Manes Systems Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10311344 (England and Wales)

MANES SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs P Stephens

C Jenkins

REGISTERED OFFICE:

The Exchange

5 Bank Street

Bury

BL9 0DN

REGISTERED NUMBER:

10311344 (England and Wales)

ACCOUNTANTS:

DTE Business Advisers Limited

Chartered Accountants

The Exchange

5 Bank Street

Bury

BL9 0DN

FIXED ASSETS

Investments

4

1,206,000

1,206,000

CURRENT ASSETS

Cash at bank

8,099

19,676

CREDITORS

Amounts falling due within one year

5

(1,066,196

)

(659,196

)

NET CURRENT LIABILITIES

(1,058,097

)

(639,520

)

TOTAL ASSETS LESS CURRENT LIABILITIES

147,903

566,480

CREDITORS

Amounts falling due after more than one year

6

(185,372

)

(582,939

)

NET LIABILITIES

(37,469

)

(16,459

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(37,569

)

(16,559

)

SHAREHOLDERS' FUNDS

(37,469

)

(16,459

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 December 2018 and were signed on its behalf by:

Mrs P Stephens - Director

1.	STATUTORY INFORMATION

Manes Systems Limited is a private company, limited by shares, registered in England and Wales. The

company's registered number is 10311344 and the registered office address is The Exchange, 5 Bank Street,

Bury, BL9 0DN.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has made a loss of £21,010 during the year and has net liabilities of £37,469 at the balance sheet

date.The company is dependent on the support of it's subsidiary, Manes Controls Limited which provides finance

via an inter company account which amounted to £536,954 at the balance sheet date. The company has indicated

that it will continue this support and as such the financial statements have been prepared on the going concern

basis. No adjustments have been made should this support be withdrawn.

Preparation of consolidated financial statements

The financial statements contain information about Manes Systems Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company is exempt under Section

399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third

parties and loans to third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost,

being the transaction price less any amounts settled.

Income from fixed asset investments

Income from fixed asset investments is received in the form of dividends and is credited to the profit and loss

account when receivable.

Fixed asset investments

Fixed asset investments in subsidiary undertakings are stated at cost, unless in the opinion of the directors, there

has been a permanent diminution in value, in which case an appropriate adjustment has been made.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2017

and 31 March 2018

1,206,000

NET BOOK VALUE

At 31 March 2018

1,206,000

At 31 March 2017

1,206,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

182,614

182,614

Other creditors

883,582

476,582

1,066,196

659,196

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

140,372

308,939

Other creditors

45,000

274,000

185,372

582,939

7.	CONTINGENT LIABILITIES

The company has given a cross guarantee and debenture with Manes Controls Limited in respect of group term

loan facilities up to a maximum of £500,000 with Barclays Bank plc.